They're not going to sell that many or make much money off of the Edition, as it is a limited edition. It's a halo product to bring in the respect of people in the fashion or high wealth circles of the world.
Now, if things work out, maybe they will start making more and more high end pieces. I'd say it is likely, and it's a wise move.
Jony Ive is one of the world's most famous and revered designers, along with Marc Newson. Why do we think his designs are less valuable than other designers? Have you seen the prices of Newson's Ikepod watches, from which the Apple Watch is likely derived?
The problem is, I don't think it will do.
I think it will be seen as a low end cheap product in a gold case.
I don't feel it will be seen as an actual high end product.
Of course, it's only my viewpoint